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ZEAL gets off to a strong start in 2025: significant increases in revenue, EBITDA and customer base

ZEAL, the leading German provider of online lotteries, has made a strong start to the new year and recorded significant and sustained growth in its key figures in the first quarter. The Group’s revenue increased by 42% to € 51.1 million in the first three months of the year (2024: € 36.1 million). At € 17.7 million, EBITDA was almost twice as high as in the previous year (2024: € 9.4 million).
“We started the new year with a lot of momentum and were able to achieve strong results in the first quarter,” says Andrea Behrendt, CFO of ZEAL. “We are particularly proud of the significant increase in our revenue and customer base despite the absence of peak jackpots. This shows that our strategic marketing expenditure and our measures to acquire new customers continue to pay off in the long term and that we are in an excellent operational position. I’m a firm believer in the growth opportunities in our core business in a still underpenetrated market.“
Revenue in core business grows by 41%
ZEAL‘s significant revenue growth in the first quarter is primarily attributable to the strong performance of the lottery business. Despite a weak jackpot situation, billings from lotteries increased by 7% to € 246.7 million (2024: € 246.3 million). The average number of active customers rose by 13% to 1,507 thousand (2024: 1,333 thousand) thanks to continued successful marketing measures. ZEAL was also able to improve its gross margin by 4.1 percent to 17.1% (2024: 13.0%) thanks to the price increase in the previous year and a strong product mix. The parallel increase in billings and gross margin led to significant revenue growth in the lottery business of 41% to € 45.2 million (2024: € 32.0 million).
Games business grows by 56%
The games business also performed very well in the first three months of the year. ZEAL was able to expand its games portfolio in the B2C segment to more than 400 titles, increasing revenue from games by 56% to € 3.4 million (2024: € 2.2 million).
Disproportionate increase in EBITDA and EBIT
ZEAL intensified its investment in continuous growth in the past quarter and set an absolute record for a quarter without maximum jackpots with 247 thousand new customers. The 47% increase in acquisition costs per registered new customer (cost per lead, CPL) to € 48.5 (2024: € 33.0) is attributable to various tests of measures to develop new target groups and channels.
Other operating expenses increased by 21% to € 25.4 million (2024: € 21.0 million). In addition to strategic marketing expenses, which rose by 16% to € 15.5 million (2024: € 13.4 million), this was primarily due to an increase in the direct and indirect costs of business operations. The further development of the product mix led to a 21% increase in direct operating costs to € 4.9 million (2024: € 4.0 million). The increase in indirect operating costs to € 4.9 million (2024: € 3.6 million) was in particular due to external consulting services as well as external staff and software costs.
Despite the higher costs, ZEAL was able to increase EBITDA disproportionately by 89% to € 17.7 thousand (2024: € 9.4 thousand) thanks to efficiency improvements and strong sales growth. At € 15.6 thousand, EBIT more than doubled compared to the previous year (2024: € 7.5 thousand). Net profit for the period fell by 53% to € 9.8 million (2024: € 21.1 million) due to the first-time recognition of deferred tax assets in the previous year.
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More Patient Transport Vehicles donated to military units, LGU

The Philippine Amusement and Gaming Corporation (PAGCOR) turned over five Patient Transport Vehicles (PTVs) to select military units and a local government unit on Tuesday, July 16, in line with the order of President Ferdinand Marcos Jr. to enhance emergency medical services in underserved and high-risk areas.
The newest PTV recipients were the Municipality of Liliw in Laguna; the Army’s 7th Infantry Division, Light Reaction Regiment and Fort Magsaysay Army Station Hospital, all based in Nueva Ecija; and the Headquarters Force Reconnaissance Group of the Philippine Marines in Ternate, Cavite.
The turnover ceremony was held at the PAGCOR Corporate Office in Pasay City and was led by PAGCOR Chairman and CEO Alejandro H. Tengco.
“These donations are part of our ongoing commitment to boost the government’s emergency response efforts, especially in areas where every second can mean the difference between life and death,” he said.
“It also reflects PAGCOR’s commitment to national service beyond gaming as ordered by President Ferdinand R. Marcos Jr.”
The donated vehicles are expected to boost the recipients’ capacity for medical evacuation and transport during military operations, natural disasters, and other emergencies in remote or conflict-prone areas.
Lt. Col. Arsen Boy D. De Guzman, the 7thID’s Assistant Chief of Staff for Logistics, thanked PAGCOR for the support and cited the critical role of PTVs during calamities and rescue missions.
“Taos-puso po kaming nagpapasalamat sa ibinigay ninyong Patient Transport Vehicle. Rest assured po na ito ay pangangalagaan namin at gagamitin sa tamang layunin,” he said.
To date, PAGCOR has donated a total of 40 PTVs to LGUs, public hospitals, and frontline agencies nationwide as part of its socio-civic programs.
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InnoGames Unveils Cozy Coast, a Heartwarming Beach Adventure Featuring Relaxed Gameplay and a Captivating Story

InnoGames, one of Germany’s leading developers and publishers of mobile and browser games, is announcing Cozy Coast, an adventure game that combines an emotional storyline, richly developed characters, and engaging puzzle mechanics based on the popular Merge-2 system. The game will launch later this year on iOS and Android. Pre-registration is already available in selected regions.
With Cozy Coast, the studio highlights its versatility by introducing a new genre to its portfolio, which includes internationally acclaimed strategy games like Forge of Empires, Tribal Wars, and Heroes of History. The game combines a sunny, feel-good atmosphere with diverse entertainment, targeting discerning casual gamers who appreciate relaxing gameplay just as much as an engaging story.
Adventures Featuring Building Mechanics and Puzzle Challenges
In Cozy Coast, players accompany best friends Mia and Elara on a journey across the picturesque Mediterranean island of Calista. For Mia, the island holds treasured memories of a carefree childhood, yet the once idyllic place has somehow lost its charm. Together, the two young women set out on a mission to restore the original beauty of Calista.
Merging items is the central gameplay mechanic in Cozy Coast. By skillfully combining items, players fulfill the wishes of island residents while gathering resources to repair buildings and unlock new areas. Along the way, Mia and Elara encounter other characters and gradually uncover the island’s secrets. With its lovingly crafted environments, Cozy Coast invites players to explore every hidden corner of Calista.
“With Cozy Coast, we’re creating an inviting game world that offers players a break from everyday life while delivering challenging gameplay. For the first time in InnoGames’ history, we’re introducing a title that combines emotional storytelling with strategic merge mechanics. We look forward to welcoming players from around the world to Cozy Coast very soon,” says Christian Reshöft, Chief Product Officer at InnoGames.
Key Features of Cozy Coast
- Merge items: Strategically combine items to create new and higher-value objects
- Restore the seaside promenade: Renovate abandoned buildings to unlock new areas
- Adventure in paradise: Discover hidden places together with your best friend and uncover the secrets of a corporation with questionable intentions
- Characters with personality: Meet fascinating characters. Every encounter comes with a story – sometimes touching, sometimes mysterious, but always full of emotion
- Fresh challenges every day: Participate in daily, weekly, and seasonal events like exploration quests, puzzle collections, and special story-driven missions to receive exciting rewards and enjoy lasting gameplay
- Unwind in a Mediterranean setting: Experience stress-free gameplay paired with a captivating story of friendship, courage, and hope
- Free to play without restrictions: Launching soon worldwide on iOS and Android
Cozy Coast was already launched in selected regions on iOS and Android, with players giving it an average rating of 4.8 out of 5 stars. Pre-registration on the App Store and Google Play is now available in Germany, Austria and Switzerland. More regions to follow soon.
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Charlie Cowdrey Appointed CEO of JioBLAST, Esports Joint Venture

Global competitive entertainment company BLAST has announced the appointment of Charlie Cowdrey as Chief Executive Officer of JioBLAST, the recently announced joint venture between BLAST and RISE, a wholly-owned subsidiary of Reliance Industries Limited.
As part of the appointment, Cowdrey will relocate from London to Mumbai this September to lead the joint venture’s Indian operations, marking a major milestone in the company’s global expansion into India.
Cowdrey has been a pivotal figure within BLAST over the last four years, holding multiple senior leadership roles across the business ranging from Chief of Staff to most recently, Programme Director for Epic Games, where he played a key role in managing one of BLAST’s most high-profile publisher relationships and competitive titles in Rocket League esports (RLCS) and Fortnite Competitive (FNCS).
Robbie Douek, CEO of BLAST, said: “Charlie has been a key figure behind BLAST’s growth and publisher operations over the past few years. He is a trusted leader who understands our culture, our partners and our ambitions. India represents an enormous opportunity for BLAST, and we believe Charlie is the perfect person to take this vision forward. We’re proud to have someone of his calibre opening this important new chapter for us alongside our partners at Reliance and RISE.”
Charlie Cowdrey, CEO of JioBLAST, said: “I’m incredibly honoured and excited to take this role in spearheading JioBLAST. We will be focussed on bringing together Jio’s unrivalled reach, RISE’s commercial prowess and BLAST’s esports expertise and global publisher relationships. Bringing this all together, there is no doubt that JioBLAST will supercharge the Indian esports industry. India is one of the most vibrant and promising gaming markets in the world, and working alongside Jio offers us a unique opportunity to build something extraordinary. We can’t wait to get started and bring BLAST’s unique approach to creating next level entertainment to India.”
The announcement follows the formation of the JioBLAST, a joint venture between BLAST and RISE, a wholly owned subsidiary of Reliance Industries Limited, aimed at supercharging the Indian esports market. With India now home to over 600 million gamers, accounting for 18% of the global gaming audience, JioBLAST will focus on creating new esports IP, establishing a state-of-the-art production studio, and delivering tournament experiences built for India’s dynamic gaming community.
The joint venture will bring BLAST’s award-winning production expertise and international tournament IPs to India while building localized formats, mobile esports offerings, and digital-first fan engagement initiatives through JioGames. Under Cowdrey’s leadership, the Joint Venture will deliver end-to-end tournament management, publisher services, and broadcast-ready content – ensuring India becomes a central pillar in BLAST’s global footprint.
As the joint venture ramps up its operations, last month JioBLAST opened recruitment for its first six foundational roles, all based in Mumbai. The new hires will join Cowdrey in building the future of esports and competitive entertainment in India. These roles represent the first wave of local leadership and talent being brought in to shape a new chapter in Indian esports.
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